Moscow. September 22, 2004.Sibneft today released full US GAAP consolidated financial statements for the first half of 2004, which are now available in the Investors Center on the Sibneft website.

The figures are in-line with those released earlier this month with the exception of net income, which totaled $992.0 million (versus 975.3 million reported earlier).

Contact:

John Mann

Sibneft

Tel:  +7 (095) 777 3116

Fax: +7 (095) 777 3114

JohnM@sibneft.ru

www.sibneft.com